The Innovation and High-Tech Area in Tianjin achieved over 92 billion yuan ($14.5 billion) of regional gross value of production in the first three quarters of the year, according to statistics from the meeting on economic operation analysis. Each development index increased and had long-term growth.

In order to implement the integrated development strategy, nearly 30 Beijing corporations have launched Tianjin branches. Another 50 corporations are launching branch offices.

In the first three quarters of the year, the Innovation and High-Tech Area launched several pilot policies and acted as a role model in system innovation and financial services. Such efforts contributed to the entrepreneurship atmosphere and high rankings in innovation indices.

Economic development grew rapidly and all major economic indices reached record highs by the end of September. The acceleration rate was still in the leading position, which laid a foundation for the whole year’s plan.

Industrial gross production reached 112.1 billion yuan ($17.7 billion), which increased 18.7 percent year to year. The actual inflow of foreign investment reached $1.1 billion, which increased 17.1 percent year to year. The actual inflow of domestic capital reached 12.7 billion yuan ($2 billion), which increased 22.3 percent.

The area made progress in the implementation of development strategies. Beijing and Hebei corporations contributed more than 40 percent of the actual inflow of domestic capital. Major projects included an environmental protection project by Goral Holdings, the new energy automobiles by China Hi-Tech New Energy Auto Company, and a technological project by Beijing Hezong Company.